News
MPC recruit Lambert urges UK Treasury drop secrecy
The most recent member of the Bank of England's monetary policy committee called for openness and transparency in the selection process of appointees to the MPC when facing the Treasury select committee on Monday 16 June, according to a report by the…
Japan's support for inflation targeting grows
Minutes of the Bank of Japan's April meeting published on Monday 16 June showed that at least two of the BoJ's nine policy board members favour the introduction of a "reference rate of inflation" to halt deflation, according to a report in the Financial…
Banco de Mexico sues over loans
The central bank of Mexico announced on Monday 16 June that it had sued four of the country's largest banks to release information related to bad loans during the mid-1990s peso crisis, according to Reuters.
New governor of Bulgarian national bank by Friday
Bulgaria's parliament is now expected to name the new governor of the central bank by the end of the week, according to Novinite. The further delay stems from the need to find a third candidate as "two candidates for Governor is no choice at all," the…
ECB's Issing not worried by euro rise - Report
Rather than being overvalued the euro is, in European Central Bank chief economist Otmar Issing's view, "above all" a correction of its previous undervaluation, he told Der Spiegel magazine.
Rate commitment could hit Fed credibility-Broaddus
Richmond Fed president Alfred Broaddus has warned the Federal Reserve may lose credibility if a commitment to hold interest rates down to fight deflation becomes difficult to maintain due to an unexpected shift in the economy's fortunes, according to…
Iraq shadow over the BIS?
Some European central bankers are said to be unhappy with the recent appointment of Roger Ferguson as head of the Financial Stability Forum. It is not that Ferguson is thought to lack qualifications for the job - quite the contrary, there is much respect…
Shift at the FSF
But so far as the FSF goes, there is more to the criticism than sheer old European bloody-mindedness. The appointment does signal a shift.
Basel bunkum
No one understands the new Basel accord. Grown men are reduced to tears when they try. There are simply too many details for any one person to digest. But it is troubling indeed to learn that people don't even seem to understand how it was arrived at in…
Trichet brings SDRM down to earth
The IMF's much-vaunted Sovereign Debt Restructuring Mechanism is the latest casualty in a string of apparently wasted efforts in attempting to find some way to save the world from the terrors of sovereign default. But a few months ago Banque de France…
Duisenberg soldiers on
No central bank takes kindly to politicians tampering with their business, and the ECB is no exception. In advance of its long-awaited rate cut this week, the ECB was told by Belgian finance minister Didier Reynders to be more active: "It is about time…
Duisenberg soldiers on
No central bank takes kindly to politicians tampering with their business, and the ECB is no exception. In advance of its long-awaited rate cut this week, the ECB was told by Belgian finance minister Didier Reynders to be more active: "It is about time…
Estonia re-appoints central bank council chairman
Mart Sorg has been reappointed chairman of the council of the Bank of Estonia, for a second term, Estonian Television reports. Sorg said he intends to hold a balance of political forces in the new council.
Court to seal fate of ECB heir apparent Trichet
Bank of France governor Jean-Claude Trichet will find out on Wednesday 18 June if he has been cleared or found guilty in a banking fraud trial, according to a Reuters report. The verdict will have implications for the succession as president of the ECB…
RBI ED quits over Udeshi's elevation
After the appointment of KJ Udeshi as the first woman deputy governor of the Reserve Bank of India, the executive director of the RBI, KL Khetrapal resigned from his post, according to the Economic Times. Sources said Mr Khetrapal was unwilling to report…
RBI's Jalan hails India's monetary policy
Despite drought and the global economic slowdown India's economy remains fast growing with its monetary liberalisation policy being adopted by other nations in the Asian region, Reserve Bank of India Governor Bimal Jalan said, according to a report by…
HKMA to establish Credit Reference Agency
The Hong Kong Monetary Authority announces plan for establishment of Commercial Credit Reference Agency in Hong Kong, 16 June.
Bundesbank dampens rate cut speculation
Bundesbank chief Ernst Welteke poured cold water on further ECB rate cut talk on Monday 16 June, according to AFP, suggesting it was now up to governments and politicians to get their economies in order.
Bank of Israel: Inflation expectations fell in May
The Bank of Israel said on Monday 16 June that Israel's M1 money supply totalled NIS 31.7 billion in May, a 0.9% rise from the preceding month, according to Globes report. It also reported that inflation expectations have fallen for the last three months.
BOC head quits posts in H.K. amid inquiry
Former chief executive of Bank of China's Hong Kong unit, Liu Jinbao, has stepped down from his positions at the Hong Kong Stock Exchange and at the Hong Kong Monetary Authority as its exchange fund advisor, Bloomberg reports.
Change in the remit of the Bank of England's MPC
In a letter from Gordon Brown to Eddie George, governor of the Bank of England, the chancellor sets out his intention to change the MPC's remit in the next Pre-Budget Report to give the Bank of England a symmetric inflation target as measured by the…
Joint note from the BCBS, IAIS and IOSCO
The Joint Forum Risk Management Practices and Regulatory Capital Cross-Sectoral Comparison, June 2003. The joint note provides a record of the initiatives taken by each sector to combat money laundering and the financing of terrorism.
New Second Permanent Secretary at the Treasury
Professor Nicholas Stern will take over from Sir Robert Culpin in September as the new Second Permanent Secretary at the UK Treasury. Nick Stern has been Chief Economist and Senior Vice President at the World Bank, Washington D.C. since July 2000.
Bulgaria ruling party ready for c bank compromise
Bulgaria's ruling party floor leader Plamen Panayotov told journalists in parliament on Thursday 12 June that the party was ready for a compromise on whom to nominate as the next central bank governor, according to bnn.